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Feb 1, 2013
02/13
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obama called it a voucher. are there other things we should do? >> i tell you, 18 years in the senate, we tried desperately to do something with healthcare. we had a good bipartisan group. we met once a week. and the reality is, your congress people don't understand the situation. nobody understands the situation. so they have done this piecemeal stuff 37 we said, look, you can't let it go over 1% of gdp. can you go in there and find fat but no one will ever say that or you get ripped to shreds by the aarp and senior groups and everybody else. we were specific in what we said, about 400 billion -- trillion. 400 trillion we hammered around in there. all you have to know is that regardless of what you call it, it can't possibly work because you've got it take care of 3-year-old of the preexisting condition that may live to be 60. have you one person in america that weighs more than the other two. you have diabetes a and b. penn people doing drugs, boods and tobacco and aren't going into a wellness program. ten million a day turning 65. you have to h
obama called it a voucher. are there other things we should do? >> i tell you, 18 years in the senate, we tried desperately to do something with healthcare. we had a good bipartisan group. we met once a week. and the reality is, your congress people don't understand the situation. nobody understands the situation. so they have done this piecemeal stuff 37 we said, look, you can't let it go over 1% of gdp. can you go in there and find fat but no one will ever say that or you get ripped to...
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Feb 5, 2013
02/13
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president obama to speak in 15 minutes time. he will ask congress to come up with short-term packages to put off automotiatic spending cuts. hampton, we begin with you, budget office right now releasing its budget and economic outlook. give us details. >> reporter: the budget office, assumes no change in current laws, 2013 fiscal year budget deficit, $845 billion. cbo projects first time below $1 trillion since 2008, 5% of gdp, well below the peak of 2009. saying deficits decline as a percentage of gdp could dip as low as 2.4% in 2015. then they start to rise again in 2016. that 10-year-old cbo deficit projection increased overall to 4.6 trillion for the 2013 decade up from $20.2 trillion in it's previous. cbo sees real gdp growing 1.4% in 2013, the sub died growth limits businesses to hire more workers, cbo projecting unemployment rate to stay near 8% this year, also expecting unemployment rate to remain above 7.5% through 2014. debt and deficits will be larger, the cbo says, if current laws were modified and rising health care
president obama to speak in 15 minutes time. he will ask congress to come up with short-term packages to put off automotiatic spending cuts. hampton, we begin with you, budget office right now releasing its budget and economic outlook. give us details. >> reporter: the budget office, assumes no change in current laws, 2013 fiscal year budget deficit, $845 billion. cbo projects first time below $1 trillion since 2008, 5% of gdp, well below the peak of 2009. saying deficits decline as a...
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Feb 19, 2013
02/13
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companies fighting back against president obama's new health care law. financial times reporting a few employers considering cutting hours of workers so they are not qualified as fulltime workers, rather than in insuring their staff. and other things, paying the penalty instead of paying to in sure. we could have seen this coming, couldn't we? >> there's gambling in casablanca, tyler. i can't believe it. look, remember when they started prescription drug plan for elderly seniors. before medicare didn't cover that. part d. do you know what a good chunk of the cost was? the government wrote checks to corporations so they would not dump seniors from retirement plans if they had been covering medicine already. this was so predicted, chronicle of a big gap in the plan foretold. >> eamon, many people out there believe after all this could end up with fewer people covered than more people covered. i don't know if you subscribe to that but it's an argument out there. >> this is such a big and sprawling new law, hard to they will what the unintended consequences
companies fighting back against president obama's new health care law. financial times reporting a few employers considering cutting hours of workers so they are not qualified as fulltime workers, rather than in insuring their staff. and other things, paying the penalty instead of paying to in sure. we could have seen this coming, couldn't we? >> there's gambling in casablanca, tyler. i can't believe it. look, remember when they started prescription drug plan for elderly seniors. before...
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Feb 26, 2013
02/13
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we're going to look in on president obama in newport news, virginia. a big shipbuilding and military site down there in norfolk, chesapeake bay area. when we come back, talking about big federal budget cuts among other things will affect defense scheduled to kick in on friday. john harwood is monitoring this and will join us after a quick break. we will take you there to newport news when "power lunch" returns. >>> meantime, ty, gold is getting a big boost, gold up $28, all due to the fed chairman mr. bernanke. we'll have the closing numbers for you. >>> then what happens when things get personal in business. macy's head and martha stewart were friends before martha hooked up with jcpenney. they are not friends anymore. [ whirring ] [ creaking ] [ male announcer ] trophies and awards lift you up. but they can also hold you back. unless you ask, what's next? [ zapping ] [ clang ] this is the next level of performance. the next level of innovation. the next rx. the f sport. this is the pursuit of perfection. but we can still help you see your big picture
we're going to look in on president obama in newport news, virginia. a big shipbuilding and military site down there in norfolk, chesapeake bay area. when we come back, talking about big federal budget cuts among other things will affect defense scheduled to kick in on friday. john harwood is monitoring this and will join us after a quick break. we will take you there to newport news when "power lunch" returns. >>> meantime, ty, gold is getting a big boost, gold up $28, all...
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Feb 8, 2013
02/13
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two economic officials from the obama administration saying it would result in 70,000 kids being thrown off of head start in a couple of thousand fewer food inspectiones. 373,000 fewer mental health patient treated. 540 million in smaller loan guarantee. 600,000 fewer women and children receiving food assistance. this is putting pressure on congress to act because many republicans expressed the idea they could let the budget sequester take effect. some democrats suggested that is not so terrible from their point of view too. white house is trying it make a counter argument. we will see over the next couple of weeks since tsequester is du to take effect. >> how effective is this, john? we have seen the white house before where they put out the worst case scenario where they try to force things along against republican answers in some cases it backfired. what do you think this time? >> it backfired at certain times. this is a moment where the white house believes the president still has wind at his back from the election results. they thought they did well at the fiscal cliff. though it i
two economic officials from the obama administration saying it would result in 70,000 kids being thrown off of head start in a couple of thousand fewer food inspectiones. 373,000 fewer mental health patient treated. 540 million in smaller loan guarantee. 600,000 fewer women and children receiving food assistance. this is putting pressure on congress to act because many republicans expressed the idea they could let the budget sequester take effect. some democrats suggested that is not so...
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Feb 27, 2013
02/13
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. >> 2% isn't nothing tp president obama has been laying out exactly how many people might be fired in defense. >> he is playing the alarmist role. sending out e-mails today about no more meals on wheels for elderly. are you kidding me? are you kidding me? that's where we're going with th this? >> the market doesn't seem to be paying too much attention to it. that the interesting point to me. i'm hearing, when i walk in the door down here, the teflon market word again. josh lipton, i don't know if you see that in the internals you're looking at from your perspective. what are you watching and this seems to be a fairly broad-based move in the market. >> you heard bob and steve touching on this. there are three trend. you have commentary out of chairman bernanke repeating support for stimulus. have you italy. we had release from the five and ten-year bond offerings. durable goods, transportation, i think it is good to see moves? individual names and you'll time highs in consumer names. talking about kellogg, hershey, clorox, delphi automotive. some strategists remain long-term bullish. >
. >> 2% isn't nothing tp president obama has been laying out exactly how many people might be fired in defense. >> he is playing the alarmist role. sending out e-mails today about no more meals on wheels for elderly. are you kidding me? are you kidding me? that's where we're going with th this? >> the market doesn't seem to be paying too much attention to it. that the interesting point to me. i'm hearing, when i walk in the door down here, the teflon market word again. josh...
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Feb 22, 2013
02/13
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john, this is part after constant drum beat from the white house and his team, obama's team that if we go through the sequester, it is bad, bad, bad. >> exactly right, simon. who what the white house is doing is a steady application of pressure on republicans in congress hoping this he will accept ultimately tax increases as part of a budget deal. ray whlahood, former republicanf congress, walked into the briefing room and said you may not see the effects immediately but they will be very real and build over time. here is ray lahood. >> it will ripple across the country. cuts mean preventative maintenance and quick repair of runway equipment may not be possible which could lead to more delays. >> what you heard was a hundred small airport towers could be shut down. control towers because of lack of funding. you will see 90-minute delays. furloughs every week. visitors centers, rest rooms, garbage cans won't be serviced as efficiently as they are now. again, they are trying to build a ground swell of outrage against what will happen. put pressure on republicans. republicans so far stand
john, this is part after constant drum beat from the white house and his team, obama's team that if we go through the sequester, it is bad, bad, bad. >> exactly right, simon. who what the white house is doing is a steady application of pressure on republicans in congress hoping this he will accept ultimately tax increases as part of a budget deal. ray whlahood, former republicanf congress, walked into the briefing room and said you may not see the effects immediately but they will be very...